SOLA ONI pays tribute to the former deputy -general of the The Nigerian Stock Exchange
I was privileged to report the capital market for The Guardian in the early nineties, during the manual trading system, popularly called Open-Outcry or Call-Over Session. This enabled stockbrokers to haggle with loud voices on share prices by shouting bidding- intent to buy shares and offering- intent to sell. The transaction process is moderated by a Chairman, a staff of The Nigerian Stock Exchange (now NGX) who presumably represents the Exchange’s President and Director General respectively. At the time The Guardian assigned me to report the market, the Call-Over Chairman was the highly respected late Chief Henry Ogiri, who was the Deputy to late Apostle Hayford Alile, the incumbent Director General.
Unfortunately, Chief Ogiri died in a ghastly motor accident and the third most senior officer, Ndi Okereke-Onyuike was promoted to Deputy Director General while Alhaji Rasaki Oladejo, hitherto Head of Research and Information Technology Department – the operating arm of the Exchange was promoted Assistant Director General and became the Chairman, Call-Over.
A highly cerebral Development Economist, Alhaji Oladejo sustained the culture of discipline which late Chief Ogiri entrenched on the trading floor. Like his predecessor, Alhaji as fondly called, occasionally brought comic relief to the floor through jokes to reinvigorate stockbrokers. The trading session was like a classroom for those of us who cover the market. We enjoyed discussions and arguments by stockbrokers had to justify every price movement- upward or downward-before the Chairman could endorse it. Apostle Alile retired in 1999 after a meritorious service to the Exchange. With the Exchange’s seamless succession policy, Okereke-Onyuike was named the Director General and Oladejo emerged her Deputy. I joined the Exchange in 1997. Although I started my career in the Corporate Affairs Department, where my immediate boss, Mrs Yinka Idowu was the first Head of Department, my job functions brought me closer to all the Exchange’s management staff.
Oladejo is a reticent professional who adheres to the rules. This always endears him to establishments and enjoys analysing government policies, especially how it affects the capital market.
He maintained a strong working relationship with Okereke-Oyuike and took pleasure in mentoring staff members, particularly those within his department. He trained Kene Okafor who succeeded him as the Head of Department. Occasionally, he gives me assignments.
He shocked everyone when he opted to retire from service ahead of his retirement period to serve himself. Oladejo’s retirement was celebrated by the entire capital market community in 2003. True to his plan, he has remained active in his retirement in both the corporate world and Islamic religion. He was appointed President of the Muslim Ummah of South West Nigeria (MUSWEN) in 2020. He is also the Deputy President of Supreme Council for Nigeria Islamic Affairs.
(SCNIA).
Born in Latoyo’s compound, Oritamerin, Ibadan, on June 21, 1945, he began his educational journey at Islamic Mission School, Odoye, Ibadan (1953-1958). He graduated with a Bachelor of Science Degree in Economics with Second Class, Upper Division in 1975 at the University of Lagos. With a federal government scholarship, he pursued a Master’s Degree in Development Economics at Boston University, USA (1979-1980).
He joined The Nigerian Stock Exchange as an Assistant General Manager and Head of Research and Information System in 1989 and rose through ranks to Deputy Director-General and Chief Operating Officer in 2000. Prior to his appointment at The Exchange, he had a distinguished career at the Ministry of National Planning and Lagos Chamber of Commerce and Industry.
He founded Mountain Investment and Securities Limited, served as a Non-Executive Director in various companies and chaired Sigma Pensions Limited from 2005-2018. He received the 2009 Distinguished Alumnus Award from the University of Lagos Alumni Association and was recognised by the Nigerian Association of Securities Dealers for his contributions to the capital market. Alhaji Oladejo is married with children and enjoys membership in prestigious clubs, including Ikoyi Club 1938 and Oluyole Club, Lagos.
Alhaji inspires everyone that crosses his path. God has gifted him 80 remarkable years. He remains a beacon of wisdom. Keep laughing and cracking jokes as your years ahead are filled with continued growth and endless opportunities. Happy 80th birthday, Sir.
Oni, an Integrated Communications Strategist, Chartered Stockbroker, Commodity Broker and Capital Market Registrar Registrar, is the Chief Executive Officer, Sofunix Investment and Communications
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